scary but .......some people made most of their fortune during that good old time...
On Fri, Jul 18, 2008 at 2:14 PM, Elaine Sui < [EMAIL PROTECTED]> wrote: > *This is what the news looks like ten years ago. Russia (a super power > country, at that time) defaulted its long term debt, which caused fear > across the world. Now US is facing the same problem. > > Oh, mau gigit Astra Agro Embah sayang? Jangan menyesal ya. --^^_^^-- > > Elaine** > * > Friday, August 28, 6:35 am Eastern Time > > FOCUS-Indonesia shares dive, more pain seen ahead > By Andrew Marshall > > JAKARTA, Aug 28 (Reuters) - Jakarta's main share index dived more > than four percent on Friday, crashing through support at 350 points > as markets tumbled across the globe, and dealers said further losses > next week could pull it below the 330 level. > > The Jakarta composite share index dropped 15.92 points, or 4.5 percent, > to 339.02, its lowest close since January 1993. The blue-chip LQ-45 > index sank 5.6 percent to 71.98 points. > > ``The market has taken a battering and it is out of our hands, it's > not because of anything that's happening in Jakarta,'' said Andre Cita, > associate director at Jakarta's Bahana Securities. > > ``This is a regional shakedown because of what is happening in Russia. > Everyone else is tumbling, so we are too.'' > > Dealers said financial turmoil in Russia was battering markets around > the world. The Dow slumped 4.19 percent to 8,166 points, its lowest > level since February, and Japanese shares ended at a 12-year low. > > But some dealers said domestic factors were also at work in undermining > the Jakarta index. The half-year results season is under way, with > several firms reporting heavy losses after more than a year of economic > crisis in Indonesia. > > ``Markets across the region have been hit by renewed fears of a global > economic downturn unleashed by Russia's meltdown. Our own earnings are > not giving any cause for confidence either,'' one dealer said. > > Indonesia's rupiah escaped the carnage in equity markets, however, > breaking through the key 11,000 to the dollar level. > > But despite the currency's gains, dealers said shares were likely to > fall further next week. > > ``It looks like the U.S. market is going to get another hit, and if > that happens it will make the markets here pretty nervous,'' Cita said. > > Arie Supangat, a dealer with Tifa Securities, said that after support > at 350 points was broken, the next support level was at 330 points. > > Some analysts said Jakarta could be cushioned to some extent by the > fact that it has already fallen so far over the past year. The market > hit a record high of 742.95 points on July 9 last year. > > ``This market was already so depressed that maybe it will at some > point decouple from events in the United States, because they have > already overshot,'' Cita said. ``Jakarta is so incredibly low at this > point that it could decouple.'' > >
